South Central Reporter

Former state university employee Phyllis Hostmeyer, who retired in February 2017, saved $2,058 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hostmeyer would collect as much as $47,453, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Hostmeyer received $997 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hostmeyer will have already received $3,082 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.